Mark S.
Conventional to DSCR Loan: Am I Crazy?
Goal: Restructure existing debt, keep payment around the same, pull cash out for reinvestment purposes (thereby increasing LTV).How: DSCR loan / portfolio loan. Open to other ideas here, too.Current Situation: I have...
Peter Morgan
Adverse mortgage market fees during refinance
Hello,I am in the midst of a mortgage refinance and I am done with initial formalities, signing the initial disclosures and providing the documentation and so far happy with the terms and It can take 30-40 days to clo...
Levi Gale
Banks rehabbing
Is anyone else seeing a growing trend of banks doing repairs on REO’s prior to listing them? Is this another way for them to combat “flipping”?
John Anderson
Buying a multifamily residence as a second home/vacation property?
It's the long weekend, so my lender is OOO. :)If I buy a multifamily home, and keep one unit vacant (while renting out the others) would I be in breach of my loan agreement? I understand that you have to live in the h...
Mary R.
How low can I go?
What are banks accepting now vs list price? I plan to offer on an reo sfd that is being auctioned. Is an offer of 65 or 70% of mls price likely to be accepted, assuming I'm not outbid?
This is a house that they've be...
Shashy B.
resale package needed from unresponsive HOA - alternatives sought
Hi all,I've been in contract for a property since late Dec. The contract has been extended multiple times, with the final date being 2/21. We (the title company, me, my agent, etc) haven't received a response from the...
Rob Grove
Any way to buy foreclosures before they hit the market??
Is there anyway to contact the bank to buy foreclosures before they hit the market? The reason I ask, I found 4 foreclosures today driving around after work, plus a bunch of others I have found. Thanks
Rob Borkowski
New Property Purchase - Inherited Problems
Just closed my first deal last Friday. It's a single-family home that was a Fannie Mae property in near move in condition. The property was listed initially at 109,000 and over the course of (3) months it dropped to 9...
Caleb Whitney
% below BPO
EDIT: the title should read "% below BPO
Can anyone post what the percentages below BPO the different loan type usually take? I'd like to hear some negotiators chime in on this one.
Roy Mitle
Urgent help needed in closing my first deal issues in financing contingency
hiI am trying to close my first deal. It's a town home with the hoa under litigation. The litigation is non structural. We still put a financing contingency. Worked thru mortgage broker and got a conditional approval ...